Reuters India Business

India’s Zydus Life reports higher quarterly profit on new drug launches in US

20 May 2025

(Reuters) -Indian drugmaker Zydus Lifesciences reported a higher adjusted fourth-quarter profit on Tuesday, driven by new drug launches in the U.S., its biggest market. The company reported a 22% rise in its consolidated profit before exceptional items and tax to 18.92 billion rupees ($221.3 million) for the quarter ended March 31. However, Zydus Life recorded …

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Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says

20 May 2025

By Rishika Sadam (Reuters) -Qure.AI, an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters. The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV …

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Dollar softens on US ratings downgrade; trade tensions back on radar

19 May 2025

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar declined broadly on Monday, hitting a more than one-week low against the safe-haven yen, Swiss franc and euro, pressured by a surprise downgrade of the U.S. government’s credit rating late on Friday, even as trade tensions also weighed. U.S. Treasury Secretary Scott Bessent said in television …

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Gold firms on safe-haven demand after Moody’s US downgrade

19 May 2025

By Sarah Qureshi (Reuters) – Gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody’s downgraded the U.S. government’s credit rating. Spot gold rose 0.9% to $3,229.51 an ounce by 1315 ET (1715 GMT). U.S. gold futures settled 1.5% higher at $3,233.5. Moody’s cut the United States’ rating to …

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India central bank gives Emirates NBD ‘in-principle’ nod to set up local unit

19 May 2025

(Reuters) -The Reserve Bank of India has given “in-principle” approval to Emirates NBD Bank PJSC to set up a wholly owned unit in India, the central bank said on Monday. Emirates NBD, Dubai’s biggest bank by assets, currently operates in India through branches located in Chennai, Gurugram and Mumbai. RBI’s approval will allow the bank …

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US imposes visa bans on India travel agents for facilitating illegal migration

19 May 2025

WASHINGTON (Reuters) -The U.S. State Department said on Monday that it was imposing visa restrictions on owners and other staff at India-based travel agencies that it says knowingly facilitate illegal migration to the United States. An unspecified number of unnamed people linked to travel agencies in India were being hit with visa bans under the …

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Power Grid Corp of India’s quarterly profit falls as project delays hurt transmission business

19 May 2025

(Reuters) -Power Grid Corporation of India posted a marginal fall in fourth-quarter profit on Monday amid sector-wide delays in energy transmission projects. The state-run energy transmission company’s consolidated net profit fell 0.5% from a year ago to 41.43 billion rupees ($485 million) in the quarter ended March 31. Revenue from operations rose 2.5% to 122.75 …

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India’s JK Paper profit plunges as higher costs, imports squeeze margins

19 May 2025

(Reuters) -Indian paper and packaging board maker JK Paper reported its seventh consecutive quarter of lower profits on Monday, as high prices of wood pressured its margins. The company’s consolidated net profit plummeted 72.4% from a year earlier to 762 million rupees ($8.9 million) for the quarter ended March 31. Indian paper manufacturers are grappling …

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India’s LNG imports to rise on higher demand from power cos, says Petronet

19 May 2025

By Nidhi Verma NEW DELHI (Reuters) -India’s liquefied natural gas imports are expected to rise in the coming months to meet growing electricity demand in the country, said A. K. Singh, chief executive of the country’s top gas importer Petronet LNG. India last week invoked emergency measures asking companies to operate underutilised gas-based power plants …

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Burger King’s India operator posts smaller loss as cheaper menus draw more diners

19 May 2025

(Reuters) -Restaurant Brands Asia, the India franchisee of Burger King, reported a narrower fourth-quarter loss on Monday, as its affordable menu appealed to cost-conscious customers. The company reported a net loss of 562.8 million rupees ($6.6 million) for the three months ended March 31, compared with a loss of 852.60 million rupees a year earlier. …

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